Trump Media on Monday submitted an updated inspection of the company's finances by a newly hired public accounting firm, after its last auditor was charged with fraud by the U.S. Securities and Exchange Commission.
Shares of Trump Media initially dropped more than 7% on Monday's announcement.
The stock was down about 6% as of 1:00 p.m.
The media company, which is majority-owned by former President Donald Trump and trades as DJT on the Nasdaq, said its revised registration statement includes a reaudit conducted by the Phoenix, Arizona-based firm Semple, Marchal & Cooper, LLP.
The company behind the social media platform Truth Social said in a press release that its latest filing amends a registration statement from mid-April and is not offering any new shares.
Persons:
Donald Trump, Semple
Organizations:
Trump Media, U.S . Securities, Exchange Commission, Nasdaq, Phoenix, Marchal, Cooper, LLP
Locations:
Phoenix , Arizona